Industry News

February 17, 2009

Uniform Closing Instructions Working Group Active

Title industry members met by conference call earlier this month to discuss the Mortgage Bankers Association's Uniform Closing Instructions Working Group. The title company representatives discussed a newly revised draft of the closing instructions, as well as changes to the fraud and indemnification provisions of the draft. The MBA prepared a first draft in 2005 and had discussions with the ALTA in late 2006. The project has become a joint effort of the MBA, ALTA and American Escrow Association.